Auction House London

Lot 35

Mixed Use - Commercial Property 

Whiteheads Building

26A Snow Hill, Wolverhampton, West Midlands, WV2 4AD

£850,000+

Guide Price (plus fees)

A Substantial Freehold Mixed-Use Investment Opportunity Comprising 2 x Ground Floor Commercial Units and 4 x Self-Contained Six Bedroom Flats Providing a total of 12 En-Suite and 12 Double HMO Rooms. Current Combined Rent is £141,159 (Equivalent) Per Annum. When Fully Let the Property has an ERV of £144,000 Combined Per Annum.

Description

The lot comprises three storey building arranged to provide two ground floor shops and on the first and second floors there are four self-contained flats each made up of six bedrooms (3 with en-suites) all with a shared shower room and shared kitchen.

Location

The property is situated in the centre of Wolverhampton with easy access to all of the local shops and amenities nearby. The Wolfrun Shopping Centre is also in close proximity. Transport links are provided by Wolverhampton rail station.

Tenancy

Please refer to the legal pack for a full tenancy schedule.

Accommodation & Tenancy Schedule

Property Floor Accommodation Tenancy Details Current Annual Rent
Shop Ground Commercial (Shop) 5 year lease commencing 03/01/17 £5,200
Shop Ground Commercial (Shop) 5 year lease commencing 01/10/18 £8,320
Flat 1 First 6 Bedrooms (3 En-Suites), Shared Shower room and Kitchen 6 Tenancies (4 x AST & 2 x Short Let) £35,079.20
Flat 2 First 6 Bedrooms (3 En-Suites), Shared Shower room and Kitchen 6 Tenancies (3 x AST & 3 x Short Let) £35,620
Flat 3 Second 6 Bedrooms (3 En-Suites), Shared Shower room and Kitchen 6 Tenancies (6 x AST) £33,540
Flat 4 Second 6 Bedrooms (3 En-Suites), Shared Shower room and Kitchen 4 Tenancies & 2 Rooms Vacant (1 x AST & 3 x Short Let) £23,400

Joint Agent

Additional Fees

Administration charge: £1,200 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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Enquire about Whiteheads Building, 26A Snow Hill, Wolverhampton, West Midlands, WV2 4AD

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